kw:public.logo_text

The Estonian Financial Supervision Authority published a document on questions about publicly traded companies

20.01.2009

The Estonian FSA has prepared explanatory answers to questions submitted by market participants regarding the regulation of activities of an issuer of securities traded on a regulated market.

The document focuses on three areas: notification about qualifying holdings, takeover-bids and financial reporting of an issuer. The explained issues include notification obligations in the case of exceeding the qualifying holding threshold, the possibility of joining the notification of insider dealing and of changes in a qualifying holding, the applicability of the exception to the aggregation of holdings obligation to credit institutions, and the legal bases for determining the squeeze-out price. For example, the FSA has specified a confusing provision and explained that fluctuations in the share value after the initial public disclosure of a takeover bid shall not be considered in calculating the fair price.

The document is available for examination (in Estonian) at:http://www.fi.ee/failid/20090106_borsiemitentide_tegevuse_raamistik.pdf

Back  |  Disclaimer